GameStop Profit Tops Estimates, Q2 Guidance Strong; Stock Up 6%

(RTTNews) - Video-game retailer GameStop Corp (GME) on Thursday reported first-quarter net earnings of $73.8 million or $0.68 per share compared with $68 million or $0.59 per share last year.

Revenues for the quarter were $2.1 billion compared with $2 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $2.01 billion for the quarter. Analysts' estimates typically exclude special items.

Same store sales increased 8.6% in the quarter.

For the second quarter, the company expects earnings of $0.21 to $0.25 per share and comparable store sales to range from flat to 3%. Analysts expect earnings of $0.21 per share.

For the full year 2015, the company is raising its earnings guidance to $3.63 to $3.83 per share from prior guidance of $3.60 to $3.80 per share in order to reflect the reduction in shares outstanding. Comparable store sales are still expected to grow 1% to 60%.

Analysts expect earnings of $3.83 per share for the year.